As of 8:00 PM local time in Cuba, the informal currency market wrapped up this Thursday, October 29, with both the US dollar and the euro experiencing an upswing. The American currency ended the day trading at an average of 866 Cuban pesos (CUP), while the euro climbed to 950 pesos. Meanwhile, the MLC (freely convertible currency) showed limited data availability at this hour, with its indicative value dropping to 702 pesos. These figures are part of the exchange rates in Cuba's informal market, which CiberCuba updates several times daily.
US Dollar's Upward Trend
The US dollar was valued at 866 CUP at the end of Thursday, marking an increase of 8.5 pesos compared to the previous day when it closed at 858 CUP. Over the past week, the dollar has risen by 39.5 pesos, a 4.8% increase from the 827 CUP recorded seven days ago. Compared to 30 days ago, when it stood at 753 CUP, the dollar has gained 113.5 pesos, though this comparison might partially reflect methodological adjustments in the index. In the last month, the dollar peaked at 867 CUP and hit a low of 753 CUP, continuing to set the pace in the informal market amid a structural scarcity of foreign currency.
Euro Reaches New Heights
The euro closed the day at 950 CUP, its highest value in the past 30 days. This marks a rise of 10.5 pesos compared to the previous day when it was valued at 940 CUP. Over the last week, the European currency increased by 35 pesos (+3.8%) from the 915 CUP it was at seven days ago. Thirty days prior, it was valued at 855 CUP, a difference of 95 pesos, though this comparison should be approached cautiously due to potential methodological adjustments. The euro stands as the most expensive currency in the Cuban parallel market, surpassing the dollar by 84 pesos.
MLC's Indicative Value
The MLC ended the day with an indicative value of 702 CUP, given the limited and unreliable data available at this time. According to data from the previous session, it was trading at 721 CUP on Wednesday, a decrease of 19.5 pesos. However, over the past week, it has increased by 26 pesos from the 676 CUP recorded seven days ago. Without physical existence, the MLC is mainly used in state-run stores that accept it, limiting its circulation compared to cash currencies.
Official vs. Informal Exchange Rates
Exchange rates as of Thursday, October 29, are as follows: 1 USD = 866 CUP, 1 EUR = 950 CUP, and MLC = 702 CUP (indicative, limited data). The official exchange rate set by the Central Bank of Cuba (Segment III) remains significantly lower at 758 CUP per dollar and 844 CUP per euro compared to the rates prevailing in the informal market.
Although Segment III was introduced as a more flexible exchange mechanism, its official rates remain far from those in the informal market and fail to meet the real demand for foreign currency among the population. The gap between the official dollar rate (758 CUP) and the informal one (866 CUP) exceeds 100 pesos, while for the euro, the difference between the official 844 CUP and the parallel market's 950 CUP approaches 106 pesos.
In a scenario marked by sustained inflation, low state wages, and increasing partial dollarization of the economy, every fluctuation in the informal market directly impacts internal prices and the purchasing power of Cubans.
The CiberCuba Exchange Rate Index is a measure of the Cuban informal market, generated from the automated analysis of thousands of foreign exchange buy-sell posts in Telegram and Facebook groups. The calculation excludes atypical offers and spam messages, weighs each transaction by its age, and consolidates a representative value updated multiple times a day.
Currency Conversion Rates
US Dollar (USD) to Cuban Peso (CUP) conversions on October 29, 2026:
- 1 USD = 866 CUP
- 5 USD = 4,330 CUP
- 10 USD = 8,660 CUP
- 20 USD = 17,320 CUP
- 50 USD = 43,300 CUP
- 100 USD = 86,600 CUP
Euro (EUR) to Cuban Peso (CUP) conversions on October 29, 2026:
- 1 EUR = 950 CUP
- 5 EUR = 4,750 CUP
- 10 EUR = 9,500 CUP
- 20 EUR = 19,000 CUP
- 50 EUR = 47,500 CUP
- 100 EUR = 95,000 CUP
- 200 EUR = 190,000 CUP
Understanding Cuba's Informal Exchange Market
Why is the informal market exchange rate higher than the official rate in Cuba?
The informal market exchange rate is higher due to the high demand for foreign currency and the limited supply available through official channels. The official rate does not meet the real economic needs of the population, leading to higher rates in the informal market.
How does the fluctuation in the informal market affect Cubans?
Fluctuations in the informal market impact internal prices and the purchasing power of Cubans. Changes in currency value affect the cost of goods and services, making it harder for citizens to maintain their standard of living amidst economic challenges.
What is the CiberCuba Exchange Rate Index?
The CiberCuba Exchange Rate Index is a measure of the informal currency market in Cuba, based on automated analysis of currency exchange posts on Telegram and Facebook. It excludes unusual offers and spam, calculating a representative rate updated several times a day.